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An explainer on climate and sustainability reporting
Chisomo Kaferawanthu, Senior Manager, Financial Services Audit, Grant Thornton UK looks at the different ESG frameworks available, how it links to reporting and how far we are from a global standard.
The UK has embarked on a journey to lead the way for a greener future with set long-term emissions reduction targets. In July 2019, the government published its green finance strategy with a plan to green finance, finance green and capture the commercial opportunity. The direction of travel is clear with the Chancellor of Exchequer including sustainability as one of the key areas in his vision for the nation’s financial services sector post-Brexit in a statement he gave in November 2020.
The Companies Act 2006 requires directors to promote the long-term success of a company for the benefit of its members, and in doing so have regard to other matters including the impact of the company’s operations on the community and the environment.